oc | Sunday 15th December

Market News » kay and burton


Not a stellar weekend for stock quality but the winds of change are no longer blowing – they’ve blown. The market HAS changed.

Not a stellar weekend for stock quality but the winds of change are no longer blowing – they’ve blown. The market HAS changed.
1) Its 6.00 pm on Saturday and the James Clearance Rate for the 32 auctions we attended was 47%. May of course rise overnight as more results are reported. 2) Bidderman – now at 1.5 and falling. Significant change from a month ago. 3) This weekend is the weakest of the Big 5 auction weekends in May as far [...]
A mixed day in Bayside. Black Rock and Beaumaris luke warm. Brighton mixed. Brighton East hot!

A mixed day in Bayside. Black Rock and Beaumaris luke warm. Brighton mixed. Brighton East hot!

Six out of seven in Brighton East were bought at auction today but at expected levels, not ridiculous prices. The highlight for me being that after a flurry of $2m offerings in previous weeks; you can still find some reasonable $1m to $1.5m buying in Carrington, Grant, Griffin, Rogers, Plunket and Margaret Streets as evidenced [...]
By the Way, Buy the Bay – Before somebody else does!

By the Way, Buy the Bay – Before somebody else does!

Port Phillip seems to be firing along on all cylinders with 16 properties sold over a million since our last report just before Easter. You know how we said land in the good parts of Elwood was around $3000 per sq metre before Easter. Well that was before Easter now it’s after Easter and land [...]
Boroondara marches on!

Boroondara marches on!

After a week or two off for serious buyers and sellers, the market in Boroondara keeps on keeping on, with clearance rates for most agencies around the 85 per cent-plus mark. The weather in Melbourne was perfect today – perhaps the last breath of summer – and there were good people numbers at  auctions and at [...]
Only thing dropping in Stonnington is the Toorak median price statistic – but we haven’t seen too many prices dropping though. Confusing!

Only thing dropping in Stonnington is the Toorak median price statistic – but we haven’t seen too many prices dropping though. Confusing!

I remember when I was at university, one of my text books was “ How to Lie with Statistics”. Well if you read this morning’s press you will have seen that house prices in Toorak were reported  to have dropped by just over 7% in the first quarter of this year. However, it’s hard to [...]
In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

In the words of Oscar Wilde any talk of the market’s death was greatly exaggerated. Wow what an incredibly powerful market day for $million+ homes and this was local not overseas buying strength.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 39 Auctions we attended today was 77 per cent and we have no late REIV results so could be higher. Bidderman was well up at 3 bidders per auction and any talk from us of the last two weeks looking a bit soft has been well and [...]
The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.

The Million dollar plus market still has some very strong results; but we are seeing a slight easing of demand continuing on the overpriced or less than perfect.

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate for the 27 Auctions we attended today was 65 per cent. Bidderman remained steady at 2 bidders per auction. However 1 in 3 of the auctions we attended today had no bidders. 33% of auctions (on OK James rated homes) had no bidders under the hammer today!! If you look [...]
The million dollar-plus view

The million dollar-plus view

This article was written in The Age, Business Day section. http://www.theage.com.au/business/property/the-million-dollarplus-view-20100314-q62r.html AS BUYER advocates, my colleagues and I attend 30 to 50 auctions a week and 100 or so open for inspections of properties in inner Melbourne’s million-dollar-plus residential market. We are regularly asked what’s happening in the million-dollar-plus market, what’s driving this market, [...]
Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

Stock Quality was down. Significant drop in Bidderman and Clearance Rates at Today’s $m+ Auctions. A hiccup or the start of a rebalancing? It’s only one day so stay tuned!

It is 6pm Saturday and the James Million Dollar-Plus Clearance rate from the 31 Auctions we attended today was 61 per cent. Wow that was a bit of a surprise! Please note we thought the quality of the homes on offer was not as high as the last two weeks in February or the upcoming March 27th auction [...]
Definitely quieter in Bayside today, but overall stock quality wasn’t as good as Feb 27th. Some prices a bit lower than expected.

Definitely quieter in Bayside today, but overall stock quality wasn’t as good as Feb 27th. Some prices a bit lower than expected.

Auctions were quieter today in terms of bidder numbers. Of the four properties we attended in Brighton/Brighton East, all passed in.   Of the 5 auctions in Bayside that we covered, there were only 9 bidders; with only one selling under the hammer.   Does this mean that vendors have become excited by the hype surrounding the market [...]
Mixed in Toorak and South Yarra

Mixed in Toorak and South Yarra

Not a whole lot on offer today and certainly minimal quality for the most part. Something old, something new. What sells? Well this week it was something old. Two good old sales were: 140 Kooyong Road with Iain Carmichael of Bennison Mackinnon (James Rating 691/1000) which sold for a bullish $4.04 million after being on the [...]
The weather wasn’t hot, but the auctions certainly were

The weather wasn’t hot, but the auctions certainly were

  To quote Rodney Morley of TBM real estate  at the auction of 23 Loch Street today, “That’s 8 of you!”  – and the bidders weren’t just there.  They were everywhere!  Loch Street, in St Kilda West, was buzzing with a crowd of more than 150 and bids came from everywhere. Stuart Lopez of Kay & Burton [...]
2010 is going to be your year of the good decision

2010 is going to be your year of the good decision

It’s 6pm and the James million-dollar-plus clearance rate is 83% on the 30 auctions we attended. Bidderman was 3.0 per auction with only 4 from 30 auctions attracting no Bidderman and 7 from 30 auctions attracting Bidderman 6 or more. The highlight of today’s auctions was a $7 million sale at 14 Scotsburn Grove Toorak selling [...]
Stonnington Land maybe the new gold or is it the houses?

Stonnington Land maybe the new gold or is it the houses?

At the end of last year there were a couple of auctions in Toorak which serve as benchmarks for land value – at least for normal Stonnington properties. The first sale was at 44 St Georges Road. This 600 square metres of land – with a knockdown house on it, sold at auction through Gowan Stubbings [...]
Beaumaris down on stock, Brighton and Hampton started very strongly

Beaumaris down on stock, Brighton and Hampton started very strongly

2010 has started strongly with 41 sales  over $1M in the Bayside year to date.  A 30% increase up on calendar year to date last year which was at 28 sales over $1M. Let’s talk about Hampton.   Four interesting auctions today – land first, Olive Street, out towards Hampton East sold for around $1.1M or $1500 [...]

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